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Colorado Divorce Blog

What happens if I did not get a prenup?

When most people in Colorado get married, they do not anticipate getting a divorce. Because of this fact, some choose not to get a prenuptial agreement. If you belong to this group and then ended up separating from your spouse, you may be wondering what to expect during divorce proceedings.

 

How mediation can benefit your divorce

Colorado couples looking to break things off are unfortunately in for a long and rocky road. Some may face more challenges than others due to financial, emotional, or other various reasons. However, any divorcing couple could potentially benefit from having a mediator on board.

The Huffington Post released an article celebrating mediation day by listing ten reasons to mediate a divorce. They include financial benefits, stating that it's less costly than an extensive and vitriolic court battle and also much faster. They also put heavy emphasis on the flexible and customizable nature of mediation. Couples have more personal attention, more confidentiality, and better options for post-divorce family plans. Additionally, being able to work things through with an emphasis on cooperation can allow a divorcing couple to maintain a fairly positive and functional relationship even after divorce. This can be of crucial importance to households with children in particular.

The second time is not always the charm

Researchers spend time and money year after year finding and ranking the reasons why people get divorced. You may have done something similar, spending hours trying to figure out what went wrong in your marriage. In many cases, it's probably not one specific thing, but a combination of actions and reactions that cause a relationship to sour and a partnership to splinter.

However, it is interesting to see how many people enter into second and third marriages knowing the odds are against them. Statistics have consistently shown that subsequent marriages fare even worse than first marriages.

The reality of hiding assets during a divorce

During a divorce, it can be tempting to fudge the numbers a little bit. Small details can drastically change the resolution and leave you paying less child support or alimony. While this may be true, there are also strict laws in Colorado that can lead to hefty punishments and fines if you do not provide accurate information during divorce proceedings. We at Kaplan Law are committed to helping you avoid these consequences while still achieving the best outcome possible.

 

Does my spouse have offshore accounts?

If you are headed toward a divorce in Colorado, you may be wondering if your spouse has been keeping any secrets from you. Even the most kind, loving spouses may simply feel that you do not have a right to some of their money, especially if they acquired the funds previous to your wedding or you did not work during the marriage. The truth is that most property and accounts become commingled during the marriage and transfer to joint property unless stated in the prenuptial agreement.

 

What are the alternatives to divorce litigation?

When you file for divorce in Colorado, you may think that there is only one way terminate a marriage through courtroom litigation. Yet, there are several ways that you can dissolve your marriage depending on what process works best for your unique situation. Mediation offers many benefits to couples who are able to discuss and negotiate matters of their settlement in a calm and civil manner.

Mediation occurs under the direction of a third-party mediator, who is present to answer questions and ensure that everything is included in the settlement. Each party has the right to bring his or her attorney with them to the mediation appointments. This form of divorce negotiation is often more affordable and can expedite the divorce process. Rather than have to wait for a court-appointed date, you can schedule the mediation appointment on your own time. In most cases, a settlement can be created in as little as one to two mediation sessions.

Use the business approach: Protect your company with a prenup

Owning your own business likely allowed you to feel a sense of accomplishment. You might treat your company with pride and affection, and as a result, you may feel protective when it comes to any negative impacts that could potentially harm your business. Any time a new business partnership or other arrangement came up, you undoubtedly took the time to create contracts to reduce the risk of unexpected fallout.

Because outside factors can also have effects on your company, applying your business mindset to other areas of life may prove useful. Therefore, you may want to understand how a prenuptial or postnuptial agreement could help protect your company from negative divorce outcomes.

Why it may be best to mediate custody

Often, if couples in Colorado cannot come to an agreement, the courts will determine a parenting plan for them. You may be able to prevent this if you and your ex are able to reach an understanding about the issue. Our attorneys at Kaplan Law are skilled at guiding unwilling parents through this process and helping them realize the benefits of mediation.

 

Colorado spousal maintenance advisory guideline formula

In 2014, Colorado state law changed to provide a formula to help judges presiding over a divorce to determine spousal maintenance, spousal support or alimony as it is commonly known. While many people have opinions on what spousal support should (or should not) be, The Colorado Springs Gazette explains that “[t]hese guidelines aren't intended to equalize income for the two households after divorce but to have them with comparable means.” With this in mind, for anyone whose marriage is on the rocks, it is worth learning more about this formula and how it could affect the future without a spouse.

According to The Denver Post, Colorado’s new law is part of a nationwide movement toward spousal maintenance formulas. The Post explains that this formula, while only a guideline for the judges, applies to marriages where the combined income is less than $240,000 and lasted between three and 20 years. The formula consists of taking 40 percent from the spouse who earns more and then subtracting half of what the lower earning spouse makes from that 40 percent. So if one spouse makes an annual income of $100,000 and the other earns $50,000, the formula would award $15,000 annually to the lower earner ($40,000 - $25,000) for a certain period of time.

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